LITTLE ROCK (AP) — Arkansas ended its fiscal year with a nearly $300 million surplus, but the governor warned lawmakers Tuesday not to count on similar windfalls in the future because much of that money came from a one-time boost in income tax collections.

The Arkansas Department of Finance and Administration said the state’s net available revenue for the year that ended June 30 totaled $5.027 billion, which was $275.4 million above the previous year’s figures and $299.5 million more than forecast.

Individual income tax collections accounted for most of the surplus, with the state collecting $190.9 million more from individual taxpayers than expected. State finance officials said the boost came from taxpayers who shifted their income to 2012 to avoid higher federal income tax rates.

“It’s a good report. I’m happy, but there’s an anomaly in there that will have to be corrected next year,” Gov. Mike Beebe told reporters.

The state’s sales tax collections totaled $2.12 billion, which was $22.5 million above the previous year but $29.5 million below forecast. Corporate income taxes totaled $431.1 million, which was $4.1 million below the previous year and $11.9 million below forecast.

The department said that the state’s revenues were also boosted by Arkansas paying out less than originally forecast in desegregation payments to three Little Rock-area school districts and in economic development incentives.

The state wrapped up its fiscal year after a legislative session in which Republican lawmakers successfully pushed through a package of tax cuts that will eventually cost the state more than $140 million a year. The first of those tax cuts will take effect in January.

Beebe said he didn’t have any recommendations on one-time projects the money could be used for when lawmakers reconvene for next year’s legislative session.

Senate President Michael Lamoureux said the figures show the state could have afforded more in tax reductions, but said he believed the approach the Legislature took by phasing in the cuts was the best one.

“We could have done more but I think we took the cautious approach,” Lamoureux, R-Russellville. “I’m not regretting anything we did.”

House Speaker Davy Carter said the revenue figures show that the Legislature’s tax cut package was justified, given that the state ended with a surplus. Carter said he also believed phasing in the reductions was the right approach.

“I’m pleased with what we did,” said Carter, R-Cabot. You don’t ever want to get out there too far and it’s better to err on the side we did.”